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Johny Fernandez: Breakout
Capital recently announced they

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had secured $20 million and
expanded access to credit. CEO

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and President McLean Wilson said
they had weathered the storm and

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never stopped funding. Now it's
quite a different story here

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over at Funding Circle, who
recently announced 120 layoffs.

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The company also announced it
will be relocating a significant

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portion of its employees in the
US over to the United Kingdom.

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Since the shutdowns began, they
have been focusing on PPP loans

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and 7(a) loans. They are not
alone in what has happened

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during the coronavirus crisis.
However, companies like PIRS

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Capital have encountered quite a
different story

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Unknown: 100% funding for real.
We've been funding since May 1,

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and we are fully operational. We
are funding basically to to the

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pre COVID standards as far as
the underwriting goes.

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Johny Fernandez: And here's
what's happening in downtown

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Brooklyn.

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Hey, everyone, I'm Johny
Fernandez with deBanked News and

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I'm here in a local New York
City neighborhood and as the

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economic activity starts to
bounce back up, you can see a

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lot of foot traffic here in this
neighborhood. And like many

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other neighborhoods, different
stores are opening back up and

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it's something that we'll start
to see more over the summer.

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Sean Murray: Thanks Johny.
Canadian small business lender

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Lendified is fighting for
survival. President and Director

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Kevin Clark had recently
tendered his resignation

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effective July 3. However, he
has since stated that he will

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stay on until the end of the
month.